On 24th May 2019, Placon introduced sandwich wrap package to its Crystal Seal refresh product line. With this new product launch the company looks forward to expand its product portfolio through the utilization of recycled plastic.
Rising population followed by increasing plastic consumption is expected to increase awareness regarding plastic recycling over the coming years. Many organizations are working on plastic recycling to reduce plastic waste. The production of domestic plastic bottle recycling in the UK has grown by more than 2,000% since 2001. Through way of the Plastics Industry Recycling Action Plan (PIRAP), the industry is working hard to improve plastic packaging recycling rate. PIRAP involves adopting methods for optimizing infrastructure for sorting and developing end markets for recycled plastics.
The global post-consumer plastic packaging industry market size is provided for the base year 2018 and forecast from 2019 to 2025 in terms of demand (Kilo Tons) and revenue generated (USD Million). The market size for each application and type has been offered for the mentioned forecast period. The report global post-consumer plastic packaging market highlights different factors such as market driving factors, restraint, opportunities, price trend analysis, and regional investment opportunity to access the latest trends. Additionally, the study examines vendor landscape analysis with market concentration ration and company profiles of leading manufacturers operating in this industry.
The European Union (EU) and others, including policy makers, businesses, and organizations have lately announced objectives of reducing or eliminating the quantity of plastic packaging sent to landfills. Kraft Heinz, for instance, announced in July 2018 that it intends to make 100% of its packaging worldwide recyclable, reusable or compostable by 2025. Also, the Plastics Division of the American Chemical Council announced objectives for 100% of plastic packaging to be recyclable or recoverable by 2030, and 100% of plastic packaging to be recycled, reused, or retrieved by 2040. The Plastics Trade Association introduced the Zero Net Waste program as early as February 2016, recognizing plastic businesses taking measures to decrease net waste in production. These objectives fit well with the drive towards circular economy concept advocated by the EU as a mode to achieve the dual goal of minimizing waste and decreasing the use of raw materials and energy.
Plastic is one of the prominent waste materials generated across the globe owing to its high usage in residential and commercial applications. According to EPA statistics for US, plastics accounted for more than 13.0% of the total MSW waste generated in 2018, which stood at more than 30 million tons of the total MSW waste generated in the country. The plastic production growth has been mainly due to the increase in manufacturing of durable goods and packaging products. According to the World Bank statistics, North America generated 289 million tons of waste in 2017. Therefore, the region provides high opportunity for recycled plastic packaging market over the coming years.
In terms of market competition, the global post-consumer plastic packaging industry is highly fragmented in nature as large number of domestic and international manufacturers operate in this industry. Some prominent manufacturers are Placon, HP Corporate Group, Graham Packaging Company, Lacerta Group, Inc., M&H Plastics USA, SKS Bottle & Packaging, Inc., Genpak LLC, Envision Plastics, Phoenix Plastics, and America's Plastics Makers.
Key segments of the global post-consumer recycled plastic packaging market
Type Overview, 2015 - 2025 (Kilo Tons) (USD Million)
- PET (Polyethylene Terephthalate)
- HDPE (High Density Polyethylene)
- PP (Polypropylene)
Application Overview, 2015 - 2025 (Kilo Tons) (USD Million)
Regional Overview, 2015 - 2025 (Kilo Tons) (USD Million)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- North Africa
- South Africa
- Rest of Middle East & Africa